China's Yuan vs Dollar: China's Yuan on a slippery slope as it hits 7-month low
Edited By WION Video Desk
Published: Jun 21, 2023, 01:25 IST | Updated: Jun 21, 2023, 01:25 IST
The dragon seems to have lost its roar at the Chinese Yuan sleep to a seven-month low. This comes against the backdrop of China cutting key lending benchmarks disappointment over the lack of stimulus measures to boost economic growth and the overall strength of the dollar was weighed heavily on the Chinese currency. The offshore Yuan dropped below 7.2 percent per dollar hitting a level not seen since late last year now while China's Central Bank implemented modest interest rate cuts to support the economy.
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